At the moment of the platform's launch, we will have a strong audience of SNcoin holders and potential interest for making purchases at the exchanges. The average cost of the listing on second-tier exchanges is about $10,000. But exchanges like Kraken, Poloniex, or Bittrex do not accept unpopular coins for listing. A large number of coin holders will come in handy here, and so will an active discussion of the project among the crypto community.
Most of the existing cryptocurrencies do not offer any meaningful practical use or real use cases and serve as a tool for speculation. Many coins or tokens are dumped immediately after their listing on the crypto exchanges. They are actively sold in wholesale volumes by those investors who acquired tokens during presales with huge discounts, as well as those who received free tokens through airdrops and bounty.
The signiﬁcant factors distinguishing Scientiﬁccoin from other crypto projects guarantee the proper attitude towards the coin. Well-educated people and those striving for personal growth are not likely to sell small amounts of coins for next to nothing immediately after they get them as they will consider it more reasonable to leave SNcoins for the future. Thus, demand for Scientiﬁccoin will grow and keep drawing interest to the services.
Unfortunately, the emerging sphere of ICOs, which is not controlled by regulators yet, invents the rules as it goes along. Some ICO projects practice the following tactics:
· announce the soft cap of, say, 3 Million dollars
· use a script that will automatically create hundreds or thousands of controlled wallets. It will, using the developers' own money in the turnover, purchase tokens from its own project. Today nobody controls the creation of new wallets, which can be perceived by real investors as actual people
· this way, they fill their wallet (contract address) with mostly phony transactions, for example, in the amount of 1.5 Million dollars — half of the soft cap. When watching these transactions on http://www.etherscan.io
, the investor will not think that these frequent receipts of funds are only the work of scripts
· showing how successful they are in doing so, they can collect about 100–200K USD from second-rate investors purely based on the "hype"
· one week before the end of the ICO, they declare that the soft cap has been collected (hence making it clear to potential investors that success is inevitable)
· they sell tokens to themselves in the amount of another 1.5 Million, announcing that 4.5 Million have been collected successfully (but having in fact collected only 200–300 thousand)
· after the end of ICO, having paid 20–50 thousand USD for the listing on several exchanges, they decrease the value of their tokens together with "bounty hunters," selling them for any possible price. As the expenses of the creation and technical implementation of many projects aren't high, the organizers don't hesitate to sell a part of the accumulated tokens for a knock-down price, hoping that eventually the coin will have its hype, and the investors will start investing dollars in it, like investing in Bitcoin.
As the funds have to be returned to the investors in case the softcap is not achieved, and huge amounts of money have already been spent on marketing, they see such manipulations as the only possible way out.
To avoid such a situation, we see the sale of tokens as a way to popularize the platform and not as a means to attract funds just to complete it. Therefore, we do not persuade potential investors to urgently buy a great number of SNcoins. We are going to continue working on the platform in any case, and the very idea of creating a platform for scientific projects with decentralized expert evaluation obliges us to be consistent and transparent to all parties involved.